Brazil’s state-run oil giant Petrobras is closing out 2025 with a surge of momentum, driven by record-breaking output and strategic expansion at the colossal Búzios oil field. The company is preparing to launch its newest floating production unit, the P-78 FPSO, in December—adding a hefty 180,000 barrels per day to what is now the world’s largest producing oil field.

🌊 The vessel arrived off the coast of Rio de Janeiro in late September, marking another milestone in Petrobras’ aggressive pre-salt development strategy. This campaign has consistently delivered results ahead of schedule and under budget, reinforcing Petrobras’ reputation as one of the fastest-growing non-OPEC producers outside the United States.

📈 In Q3, Petrobras posted a net income of $6 billion—up 27% from the previous quarter—despite a $10-per-barrel drop in Brent crude prices. The company’s board responded with a generous $2.27 billion interim dividend, surpassing analyst expectations and last quarter’s $1.6 billion payout.

🛢️ Production at Búzios alone topped 1 million barrels per day in October, helping Petrobras reach a total output of 3.14 million barrels of oil equivalent per day in Q3—an 8% increase from Q2. Key contributors included FPSO Almirante Tamandaré, which hit its full 225,000 bpd capacity three months early, and Marechal Duque de Caxias at the Mero field.

🧬 “The rock and cavity structures at Búzios allow the field to produce more than we expected,” said Sylvia Anjos, Petrobras’ Director of Exploration and Production. The field’s unique geology and high-quality light crude are proving to be powerful assets.

💰 Petrobras continues to prioritize upstream investment, dedicating 85% of its Q3 capital expenditure to exploration and production. CFO Fernando Melgarejo emphasized the company’s ability to deliver projects “ahead of schedule and within budget,” while remaining flexible enough to delay select investments if market conditions warrant.

🌍 As global energy dynamics shift, Petrobras is positioning itself as a resilient and forward-looking player. With Búzios setting new benchmarks and another FPSO about to come online, the company is not just riding out 2025—it’s redefining what success looks like in offshore oil production.